Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives $18.50 Average PT from Analysts

Key Points

• Alphatec Holdings, Inc. has received a consensus rating of "Buy" from six research firms, with an average 12-month target price of $18.50.
• Recent insider transactions show that Director Karen K. Mcginnis sold 3,963 shares for approximately $47,992, reducing her position by 5.45%.
• The company reported a quarterly revenue of $185.54 million, surpassing analyst estimates and reflecting a year-over-year growth of 27.5%.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) has earned an average recommendation of "Buy" from the six ratings firms that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.50.

Several analysts have recently commented on ATEC shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $20.00 price target on shares of Alphatec in a research report on Friday, August 1st. Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price target (up previously from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. Barclays reissued an "overweight" rating and issued a $22.00 target price (up previously from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Lake Street Capital raised Alphatec to a "buy" rating and set a $18.00 target price on the stock in a research report on Monday, June 16th. Finally, Wall Street Zen raised Alphatec from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

Insider Buying and Selling

In related news, COO Scott Lish sold 55,375 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $13.00, for a total transaction of $719,875.00. Following the completion of the transaction, the chief operating officer owned 771,645 shares in the company, valued at approximately $10,031,385. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total transaction of $269,751.72. Following the completion of the transaction, the general counsel owned 438,331 shares of the company's stock, valued at $6,535,515.21. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 449,997 shares of company stock worth $5,846,616. Corporate insiders own 20.90% of the company's stock.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Alphatec by 38,433.3% during the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock worth $228,000 after purchasing an additional 2,306 shares in the last quarter. Comerica Bank raised its holdings in Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after purchasing an additional 1,248 shares in the last quarter. Larson Financial Group LLC purchased a new position in Alphatec during the first quarter worth about $54,000. Quarry LP raised its holdings in Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock worth $49,000 after purchasing an additional 2,375 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Alphatec by 22.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock valued at $63,000 after buying an additional 1,045 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Price Performance

Shares of Alphatec stock traded down $0.26 on Monday, hitting $15.55. 421,226 shares of the company were exchanged, compared to its average volume of 2,070,071. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -13.71 and a beta of 1.05. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. The company has a 50-day moving average price of $11.82 and a 200 day moving average price of $11.37. Alphatec has a 1-year low of $4.88 and a 1-year high of $16.01.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. The firm had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The business's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.29) EPS. As a group, sell-side analysts predict that Alphatec will post -1.08 earnings per share for the current fiscal year.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.